Cupertino-based giant Apple is weighing on various options for its future in Indian handset market. And it seems like the No. 3 smartphone player in India only has one viable option: drop the retail price of existing iPhone models.

After re-launching the iPhone 4 in India at a price point of Rs. 22,990, Apple is now planning to boost sales of its iPhone 4S in the country.

Yes indeed, the iPad Air maker has already slashed the retail price of iPhone 4S (8GB) from Rs. 31,500 to Rs. 24,000. It's the only way left to know if there's still a little magic left. Most of the online retailers have already started selling the iPhone 4S between Rs. 22,990 - Rs. 24,000.

Back in January, Apple launched a buyback scheme for the iPhone 4S in India. Under the scheme, customers had to trade in their old smartphones and get a minimum of Rs 5,000 off in return.

Talking about its specs, Apple iPhone 4S features a 3.50-inch display having a resolution of 960 x 640 pixels, 800MHz processor, 512MB RAM, 8MP rear-facing camera, 0.3MP front-facing shooter, and a 1430mAh battery fitted inside. The phone runs on the latest version of iOS.

Since past few months, Apple has been aggressively promoting its products in India. Moreover, with the implementation of attractive buyback offers and EMI offers, Apple managed to create a stir in Indian handset market. Nonetheless, the company needs to price its devices at par with competing products as to make a positive impression in the minds of consumers.

If you know you're planning to buy an iPhone 4S soon, you probably also want to pay as little as possible. Here are the top 5 deals available on the iPhone 4S. Stay tuned to GizBot for more updates!

Stay tuned to GizBot for more updates!

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Great news! Flipkart is offering iPhone 4S(8GB) for as low as Rs. 23,245.